Loblaw Companies (TSE:L) Stock Price Crosses Above 200 Day Moving Average of $119.39

Loblaw Companies Limited (TSE:L)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$119.39 and traded as high as C$119.55. Loblaw Companies shares last traded at C$119.14, with a volume of 227,335 shares trading hands.

Analyst Upgrades and Downgrades

L has been the subject of a number of recent research reports. CIBC boosted their target price on Loblaw Companies from C$149.00 to C$152.00 in a research report on Thursday, July 27th. Royal Bank of Canada boosted their price objective on shares of Loblaw Companies from C$168.00 to C$169.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Desjardins set a C$133.00 price objective on shares of Loblaw Companies and gave the stock a “hold” rating in a report on Thursday, July 27th. Finally, National Bankshares boosted their target price on Loblaw Companies from C$140.00 to C$142.00 in a research report on Thursday, July 27th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$141.81.

Loblaw Companies Stock Up 0.5 %

The company has a market cap of C$37.69 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.88 and a beta of 0.09. The company has a quick ratio of 0.68, a current ratio of 1.36 and a debt-to-equity ratio of 159.67. The business’s 50 day moving average is C$117.91 and its 200 day moving average is C$119.39.

Loblaw Companies (TSE:L) last issued its quarterly earnings results on Wednesday, July 26th. The company reported C$1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.93 by C$0.01. The business had revenue of C$13.74 billion for the quarter, compared to the consensus estimate of C$13.64 billion. Loblaw Companies had a return on equity of 18.17% and a net margin of 3.48%. As a group, equities analysts anticipate that Loblaw Companies Limited will post 7.6453298 earnings per share for the current fiscal year.

Loblaw Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Sunday, October 1st will be paid a dividend of $0.446 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.50%. Loblaw Companies’s payout ratio is 28.94%.

Loblaw Companies Company Profile

Loblaw Companies Limited, a food and pharmacy company, engages in the grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services businesses in Canada. It operates in two segments, Retail and Financial Services. The Retail segment operates corporate and franchise-owned retail food, and associate-owned drug stores.